The Costs of Weak IT Security

The global uptick in remote working has increased the frequency, range and probability of security incidents.

The majority (80%) of security professionals say they have witnessed increased security threats since the inception of the pandemic. And yet, only 9% of SMBs prioritise cybersecurity.

Below are key statistics that highlight the risks and potential costs to businesses of not prioritising IT security.

Security risks

The global cost to businesses
$1,797,945per minute

Estimated cost of cyber crime to businesses worldwide

$4.35M Globally
$9.44M US

Average cost of a data breach


Average value of a lost/stolen work laptop


Estimation global cost of cyber crime by 2025

$2.5Mper minute

Average cost of a malware attack


Average time taken to identify stolen user credentials.

Data breach

Identification and containment
206 days

Average time taken to identify a data breach

73 days

Average time needed to contain a data breach

Laptop theft

  • A laptop is stolen every 53 seconds.
  • 52% of business leaders admit they sometimes or often leave their laptop in the care of strangers while travelling.
  • 56% of lost work laptops result in a data breach.
The cost of

Human error


Of all data breaches arise from human error


Of insider threats result from employee/contractor negligence


Of all data breaches result from social engineering attacks (when users are manipulated into making security mistakes)

Personal device use

What are IT leaders’ concerns about personal device use?

Of employees claim to use their personal laptop or phone for work at least some of the time


Of IT leaders say personal device use makes their organisation more vulnerable to a security breach


Of IT leaders worry that outgoing employees retain sensitive data on their personal devices/in cloud storage

Password security

65 %

Of business leaders store their laptop passwords on insecure documents (e.g. post-it notes) or share them with other people

Phishing attacks


Of UK companies experienced one or more successful email phishing attacks in 2021


Average cost of a data breach caused by phishing


Average cost of an email phishing attack

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